Page 30 - BOSS Today Issue 22

LEGAL

GET

INTO

CREDIT

he regulation of consumer to continue your licensable enforce a credit agreement if
Tcredit has changed. activities. they are not licensed: note that
On 1 April 2014 the Financial If your business sells goods this applies to all independent
Conduct Authority (FCA) or services on credit, offers dealers, not just to the big
took over the regulation of goods for hire or provides debt players.
consumer credit from the counselling or debt adjusting You can register with the
Office of Fair Trading (OFT). services to consumers, you Financial Conduct Authority
All firms who held a almost certainly need to be online at: http://www.fca.org.
Consumer Credit Licence (CCL) licensed by the FCA. uk/clicked?gclid=CLfnzf21sL0C
are no longer able to trade Engaging in licensable FZShtAodYHUA3A
under these as of 31 March credit activities without a
2014, since all Consumer CCL is a criminal offence, ■ FOR FURTHER
Credit Licences expired on and can result in a fine and/ INFORMATION CONTACT
this date. If you have not taken or imprisonment. Businesses THE BOSS LEGAL TEAM ON
action you will not be able cannot normally legally 0845 450 1565

30 BOSS TODAY | May 2014

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